Crypto Catch: Billionaire Fund Manager Bullish on Bitcoin

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Crypto Catch: Billionaire Fund Manager Bullish on Bitcoin

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 Crypto Catch: Billionaire Fund Manager Bullish on Bitcoin
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Highlights

  • Fund manager and billionaire Bill Miller has claimed he is so bullish on bitcoin that 50 percent of his personal assets are now tied to Bitcoin
  • Bitcoin has moved to just below US$42,000
  • This morning saw almost every single altcoin in the red

Fund manager and billionaire Bill Miller has claimed that he is so bullish on bitcoin that 50 percent of his personal assets are now tied to Bitcoin. he revealed in a video interview with WealthTrack published on Friday.

Miller made headlines as a fund manager at Legg Mason when he beat the S&P 500 index for a record-breaking 15 years in a row from 1991-2005.

The fund manager has been an outspoken advocate for Bitcoin, but his revelation about his personal portfolio was new.

Miller had previously bought Bitcoin for just US$200 in 2014 and then halted his Bitcoin purchases until last year when its price began to fall following a period of unprecedented growth from January to April.

Miller said he thinks of bitcoin as “digital gold” and has only recently allowed himself to be called a “bitcoin bull” because he feels that the crypto has now worked itself into a game-changing technology.

Bitcoin has moved to just below US$42,000.

Altcoin News

This morning saw almost every single altcoin in the red as the crypto market continued its downward spiral since November last year.

By 4:30am AEST, Binance Coin was down almost seven percent, while Cardano and Polkadot were down almost 11 percent.

The downward trend has likely been influenced by rising US interest rates, which the Federal Reserve says I’m in service of reducing the US balance sheet this year.

Winners and Losers

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Note: Growth from the 24 hours prior to 12:30pm AEST

Source: Coinmarketcap.com, based on top 100 cryptos.

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